Exchange-Listed Firms Raise $630m in 4 Months

Aug 5, 2018, 5:28 AM

News ID: 26230

EghtesadOnline: Publicly-traded companies on Tehran Stock Exchange and Iran Fara Bourse added 27.79 trillion rials (about $630 million) to their share capitals during the first four months of the current fiscal year (March 21-July 22), the Securities and Exchange Organization announced.

Of the aggregate amount, 14.35 trillion rials ($326.2 million) were raised by issuing a bonus share and 13.44 trillion rials ($305.5 million) by selling preferred stocks, Mehr News Agency reported.

Firms’ capital increase for the fourth Iranian month, Tir (June 22-July 22), stood at 14.2 trillion rials ($322.2 million).

TSE, established in 1967, is Iran’s largest exchange with a market capitalization of 4.75 quadrillion rials ($107.99 billion), followed by the smaller IFB with a market cap of 1.67 quadrillion rials ($38 billion) as of Saturday, according to Financial Tribune.